Regulatory Alerts2024-04-04
Added
PSD Circular No. 04: Ensuring uninterrupted ATM, POS, QR Code, Internet Banking, Online e-Payment Gateway and MFS during the vacation of Eid-ul-Fitr & Bengali New Year's Day
The Payment Systems Department of Bangladesh Bank directs all scheduled banks, Mobile Financial Service providers, Payment Service providers, and Payment System Operators to ensure uninterrupted transaction services via ATM, POS, QR Code, Internet Banking, Online e-Payment Gateway, and MFS during the Eid-ul-Fitr and Bengali New Year holidays. The circular mandates specific operational measures, including maintaining 24/7 service availability, ensuring sufficient cash supply at ATMs and MFS agent points, implementing Two Factor Authentication for online transactions, and providing immediate fund crediting for transactions with response code '85'. Additionally, institutions are required to enhance security, send instant SMS alerts for all transactions, conduct public awareness campaigns, and maintain continuous help line support to prevent customer harassment.